EU new car sales see modest growth in Oct. ’24

New EU car registrations saw a modest 1.1 per cent increase in October 2024, reversing their previous decline. Spain led with a strong 7.2 per cent growth, while Germany rebounded with a 6 per cent increase after three months of decline.

Conversely, France and Italy experienced decreases of 11.1 per cent and 9.1 per cent, respectively.

For the first ten months of 2024, new car registrations remained stable at 0.7 per cent, totalling 8.9 million units. Spain and Italy showed positive performance with 4.9 per cent and 0.9 per cent increases, while France and Germany saw declines of 2.7 per cent and 0.4 per cent.

Regarding power sources, the battery-electric car market share for October 2024 held steady at 14.4 per cent, despite a year-to-date volume drop of 4.9 per cent. Plug-in hybrid car registrations fell by 7.2 per cent, with a market share of 7.7 per cent, down from 8.4 per cent last year.

Hybrid-electric registrations rose by 17.5 per cent, achieving a 33.3 per cent market share, surpassing petrol car registrations for the second consecutive month.

Petrol car sales declined by 6.8 per cent in October 2024, with France seeing the steepest drop at 32.7 per cent, followed by Italy at 10.1 per cent.

Spain experienced a modest decrease of 1.6 per cent, while Germany was the only major market to show growth, with a 3.7 per cent increase in petrol car registrations. Petrol cars now make up 30.8 per cent of the market, down from 33.4 per cent last year.

The diesel car market fell by 7.6 per cent, resulting in a 10.9 per cent market share, with declines observed in nearly two-thirds of EU markets.

Attribution: The European Automobile Manufacturers’ Association (ACEA)

Subediting: M. S. Salama